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Health Policy and Management

Week Two

Fundamentals of Budgeting and Financial Management, 312.603.11 

3 academic credits
June 13-15, 2016 (9:00 am - 5:00 p.m.)
Instructor: William J. Ward, MBA

The objective of this course is to provide students with an understanding of the role of budgeting as a key component of the administrative process. Students will learn how to develop a budget, as well as how to evaluate the financial status of a department or operating unit and determine what, if any, corrective actions need to be taken. Skills will be taught regarding a variety of analytical methods that support sound management decision-making, including benefit/cost ratio analysis, variance analysis and break-even analysis. The course will also include approaches to benchmarking, productivity improvement techniques and methods for building cost standards. Students taking this course for graduate academic credit will be evaluated based on a final exam. This exam will be due within one month of the conclusion of the course, on a date identified by the instructor. No assignments will be accepted after August 5, 2016.